Marsh & McLennan Plans Cuts

New York financial-services company Marsh & McLennan Cos. announced another round of cost cuts as the latest step in its corporate restructuring.

The company's moves, which include cuts in information technology, real-estate and corporate functions, will lead to about $350 million in annual savings by the end of 2008, the company said. About $225 million in associated charges will be recognized by the end of that year.